Nonprofit Services
Accounting For Nonprofit Organizations
Rubino has worked with nonprofit groups for decades. We understand how the stewardship of financial resources is essential to success of your organization. We provide tailored assurance, tax and advisory solutions, including:
Since our founding in 1980, Rubino & Company, Chartered has been organized around exceptional client service and our commitment to our employees.
We understand the ongoing unique strategic and financial issues that the nonprofit industry faces. Nonprofits face a challenging environment with competition for donors, grant funding requirements, and the myriad of regulations associated with federal grant funding.
With Rubino’s experience and commitment to the nonprofit industry, we offer the following nonprofit services:
Outsourced Accounting For Nonprofits
Accounting is a time-consuming task, and nonprofit leaders typically can’t allocate enough time to do it properly. With our outsourced nonprofit accounting, you don’t have to worry about keeping track of your funds, expenses, and donations—we do it for you.
Rubino knows that running a nonprofit is demanding, and we want you to focus your time and efforts on your mission and community. If you feel tasks like accounting keep you away from focusing on your organization’s goals, Rubino’s outsourced accounting for nonprofits will get you back on track.
What Our Clients Say
Executive Director
National Safe Boating Council
Nonprofit Audit And Other Assurance Services
Nonprofit organizations are often required to have an audit; driven by: board and bylaw or foundation or state fundraising requirements or under the federal government OMB Circulars. Potential donors and funders need assurance that your organization’s financial practices meet standards, whether driven by the federal government, state authorities, donors or foundations. Regular audits help nonprofit organizations build a reputation for integrity, transparency, and compliance with regulations.
We provide independent, objective audit services of your organization’s financial statements, and help ensure compliance with accounting, regulatory and financial reporting requirements, In addition to providing reliable information, financial statement and compliance audits assist your organization in its reporting to donors, funders, government agencies, lenders, and other stakeholders.
Nonprofit Tax Services
From tax planning to Form 990 preparation, our nonprofit tax services help your nonprofit stay organized.
We know that your tax-exempt status is important to your organization, so we help nonprofits that have lost tax-exempt status file the right forms to regain this important benefit. We also assist with ongoing document filings and help new nonprofits start on the right foot.
Our experts also prepare sales, property, and use taxes that are not included in your tax exemption.
Advisory
Our team has extensive and practical experience in charitable organization operations, strategy, governance, risk management, and general business consulting. We deliver services designed to help implement new standards and systems, strengthen governance, improve productivity and efficiency, and manage risks and costs. We have assisted clients with optimization of cost allocations, NICRA submissions, due diligence, business combination reviews, endowments, and many other areas where we can supplement your resources.
We’re Dedicated to Nonprofit Organizations
Our Expertise
Here is a sampling of some of the types of organizations we support and have experience with:
- Trade Associations
- Membership Organizations
- Local Charities
- National Charities
- Social Welfare Organizations
- Business and Trade Associations
- Private Foundations
A Unified Mission
At Rubino, our clients always come first. We are unified in our mission to have a positive effect on our clients, our company, and the community.
Frequently Asked Questions (FAQs) For Nonprofit Services
Answer: Audit requirements vary by state and funding sources. Some states require audits based on revenue thresholds, and some grantors or donors may require them as a condition for funding.
Answer: The audit timeline varies but typically takes 4-8 weeks, depending on the complexity of the organization and the availability of documentation.
Answer: The audit process typically includes:
- Planning & Risk Assessment – Understanding the nonprofit’s operations and identifying risks.
- Fieldwork – Reviewing records, testing transactions, and evaluating controls.
- Drafting Reports – Preparing financial statements and audit reports.
- Finalization & Presentation – Discussing findings with management and the board.
Answer:
Nonprofits should keep detailed records of:
- Donations and grants
- Expenses and disbursements
- Payroll and employee records
- Annual tax filings
- Meeting minutes
- Articles of incorporation
- Bylaws and any amendments
- Policies and handbooks
Answer: The IRS generally recommends keeping financial records for at least 7 years. Key documents, such as tax-exempt status determination letters, governing documents, 501(h) elections, etc., should be kept permanently.
Answer: If a nonprofit fails to file a required Form 990 for three consecutive years, the IRS will automatically revoke its tax-exempt status. The organization will then need to reapply for tax-exempt status.
For a complete list of Nonprofit Services FAQs, please click here.
